EAST RUTHERFORD, N.J. — The overheard of the day at MetLife Stadium?

“There goes the No. 2 pick.”

As New York Giants running back Devin Singletary rushed 6 yards into the end zone for a game-sealing touchdown in the final minutes of Sunday’s 34-17 win over the Dallas Cowboys, that quip was caught by a passerby in the bowels of the stadium. However, it might as well have been a collective exclamation from Giants nation as the prospect of the No. 1 or No. 2 pick went up in smoke with a victory that had the franchise closing out the season at 4-13.

With Sunday’s win and the rest of the league results, the Giants will be picking fifth in the 2026 NFL Draft.

After the Giants beat the Las Vegas Raiders last weekend, their chances of selecting the top pick significantly decreased. If the Giants had lost to the Cowboys and the Raiders had beat the Kansas City Chiefs, the Giants could have moved up to No. 1 depending on the outcome of four other games. Even if the Raiders and Giants had both lost, the Giants could have held onto the No. 2 pick.

However, with the win, the Giants dropped to No. 5 due to losses by the Tennessee Titans, Arizona Cardinals and New York Jets.

And with the Giants’ first-round draft position secured, now comes four months of debate on how the Giants should utilize their choice. Unfortunately for New York fans, the prospect of wheeling and dealing the pick has gone down significantly with the drop in draft positioning.

If the Giants had the No. 1 pick, there would be a real discussion on whether the Giants would trade the pick to recoup draft assets. Just last week ahead of the Raiders game, NFL Network’s Ian Rapoport said to expect the Giants to “evaluate all options, including looking at (Indiana QB) Fernando Mendoza, before they make a decision on how they’re going to proceed if they have (the No. 1 pick).” That made sense especially when thinking about the number of Giants picks in the 2026 draft.

For now, the Giants are set to have only seven picks: They’ve got their picks in the first, second, fourth, fifth and sixth rounds. They also have the Cowboys’ sixth-round pick from the Jordan Phillips trade and the Miami Dolphins’ sixth-round pick from the Darren Waller trade. The Giants don’t have a third-rounder after using that pick to move up and select QB Jaxson Dart in the 2025 first round.

The Giants are locked into the fifth pick. They would have had the No. 1 pick if they lost today since the Raiders won.

— Dan Duggan (@DDuggan21) January 5, 2026

Stranger things have happened, and yes, there’s no guarantee when it comes to a change in coaching staffs, but Dart has looked more and more like the quarterback of the future in New York. Knowing the Giants could trade that top pick to a QB-needy team could have resulted in a massive haul. Just look back to 2023, when the Chicago Bears sent the No. 1 pick to the Carolina Panthers in a blockbuster exchange.

But that is not to be this year.

Even if the Giants had ended up with the No. 2 pick, there was still potential for a big haul. The 2026 draft class isn’t set yet, but for now, Indiana Heisman winner Mendoza is looking like the top quarterback prospect. We’ll see if Oregon quarterback Dante Moore declares for the draft, but if he does, that would make the No. 2 spot even more attractive.

However, given the Giants’ draft position, trading a pick might not result in a strong enough return. That could be especially true considering this caveat from The Athletic’s NFL Draft expert Dane Brugler: “Here is an unfortunate truth about the 2026 NFL Draft: It is extremely underwhelming in the top-15 picks. There are good players at the top of this class, don’t get me wrong. But relative to most drafts, this year won’t match up at the top.”

How many teams are going to be clawing to get into the top 10 if the class isn’t as strong, and especially if they don’t need a quarterback?

Where does that leave the Giants?

They’re back in familiar territory after taking edge Abdul Carter with the No. 3 pick in 2025 and choosing wide receiver Malik Nabers with the No. 6 selection in 2024. Based on the results of The Athletic’s annual Giants fan survey, the responding public would prefer that the franchise draft either from the cornerback or offensive line position. Defensive line, wide receiver and inside linebacker were other top choices.

What position and who the next first-round Giant will be remains a mystery today. But the Giants have four months to sort it out.